January 19, 2017
Building on a successful 2016, Palmer Capital have c.£200m to deploy into UK Real Estate.
Palmer Capital are advising clients to focus investment portfolios to have a combination of long term core income and a series of targeted alpha opportunities. They are currently looking to acquire assets which are c.£2m – £75m which play to the following three investment themes:
- LONG DATED INCOME: Buying assets with >10 years of income but ability to add value through management initiatives.
- URBAN ASSET CREATION: Acquiring UK urban assets that can be refurbished into new residential (for sale or rent) PRS or office assets.
- PLANNING GAIN: Acquiring primarily brownfield sites in major UK cities, where planning consents can be readily obtained for residential, and then land sold.
TOP RECENT DEALS:
Income Focused
Waterside House, Bracknell: Acquisition of a Grade A office building, let for c.23 years to Cable & Wireless (Vodafone) with 5 yearly RPI rental uplifts. Acquired for £35M reflecting a net initial yield of 5.6%.
Value Add / Opportunistic
Graviton park, Belevedere: Site purchase and speculative 105,000ft2 industrial development. Sold for £15.1M on P.C to a UK investor, achieving an IRR of 45%.
Residential Planning
West Drayton, West London: Acquisition of two commercial buildings on 1 acre close to Crossrail stations. Planning submitted for a 90 unit residential development.Acquired for £5.95M with forecast IRR of 66% IRR, EqM 1.57X.
If you have opportunities which fit the above requirements then do get in touch with Charles Allen, Acquisition Director at Palmer Capital at charles.allen@palmercapital.co.uk or 0207 409 5500.